BNY Mellon has been appointed as successor depositary bank by Software AG for the company’s American depositary receipt (ADR) program.
“With a strong business presence in the US, we see increasing interest in our company from American investors, and a considerable percentage of our shares is already held in the United States,” says Otmar F. Winzig, senior vice president of investor relations and compliance at Software AG. “The renewed ADR program will support our efforts to widen our shareholder base, enabling a broader range of US-based investors to take part in our future development.”
Each Software AG ADR represents one fourth of an ordinary share and trades on the US over-the-counter (OTC) market under the symbol “STWRY.” Software AG’s ordinary shares trade in the Prime Standard of the Frankfurt Stock Exchange under the symbol “SOW.” Software AG will use the OTCQX platform, a premier marketplace for over-the-counter trading in the U.S.
Founded in 1969, Software AG is an independent software vendor that offers end-to-end business process management solutions delivering low total-cost-of-ownership and high ease-of-use. The company is headquartered in Darmstadt, Germany and listed on the TecDAX segment of Deutsche Borse.
“As successor depositary bank, we’ll work closely with Software AG to broaden its outreach to global investor audiences, with the ultimate objective being diversification of their shareholder base by attracting more U.S. investors,” says Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts
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